Coronavirus: £320m rescue package for business from Scottish government - BBC Sourced
Immediate action in response to COVID-19.
New measures to limit the impact of COVID-19 on the business community in Scotland have been announced by Finance Secretary Kate Forbes.
The following steps will be put in place to support businesses during the 2020-21 financial year:
• a 75% rates relief for retail, hospitality and leisure sectors with a rateable value of less than £69,000 from 1 April 2020
• an £80 million fund to provide grants of at least £3,000 to small businesses in sectors facing the worst economic impact of COVID-19
• 1.6% rates relief for all properties across Scotland, effectively reversing the planned below inflation uplift in the poundage from 1 April 2020
• a fixed rates relief of up to £5,000 for all pubs with a rateable value of less than £100,000 from 1 April 2020
The Finance Secretary will also write to all local authorities urging them to respond positively to requests from rate payers for payment deferrals for a fixed period.
Ms Forbes said:
“COVID-19 will have challenging implications for businesses and the economy over the coming weeks and months.
“As well as following the latest health and travel advice, it’s also crucial we consider the latest economic analysis and listen carefully to what the business community is telling us. We know that the tourism and hospitality sectors are facing immediate pressure, which is why we have directed support to them in particular.
“All rate-payers will benefit from a relief that effectively reverses the planned inflationary uplift in the poundage that was due to come into effect in April.
“The measures I’m announcing today will provide £320 million of assistance to Scottish business and ensures that all Non Domestic Rate consequentials we expect to receive from the UK Government associated with the COVID-19 outbreak will be used to provide Scottish business with support through what is likely to be a difficult time. We will also be making the case to the UK Government that, because of the larger number of small businesses in Scotland, we need additional resources to be able to provide further support.
“Businesses receiving support are being encouraged to operate with fair work principles including supporting staff to self-isolate when they need to and if they have caring responsibilities and to consider keeping staff in employment where at all possible.
“We continue to work closely with our partners to identify what further support is needed and I’d encourage any businesses with questions relating to the impact of COVID-19 to contact the helpline we launched this week.”
The business helpline number is 0300 303 0660. The helpline will be open Monday to Friday 8.30am to 5.30pm.
Callers should select option one to speak to the COVID-19 team.
Further additional guidance and information, including links to guidance for travellers and the general public, can also be found on HPS’ COVID-19 page.
The latest numbers of test results are published at 2pm each day on the Scottish Government website.
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- Scottish Chamber of Commerce: COVID-19 Update
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- UK Government: Coronavirus (COVID-19): letter to the manufacturing sector 08.04.20
- UK Government: Letter from the Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma, to those working in retail. 08.04.20
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- Scottish Government Coronavirus (COVID-19): business and social distancing guidance. Published 25.03.20
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- Coronavirus: £320m rescue package for business from Scottish government - BBC Sourced
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- Helpline announed by Fiona Hyslop, Economy Secretary - Sunday 15th March 2020